Steven Stark Startup Lawyer for Toledo, OH
Richard Gora Startup Lawyer for Toledo, OH
Joshua Garber Startup Lawyer for Toledo, OH
Kieran De Terra Startup Lawyer for Toledo, OH
Alex Sousa Startup Lawyer for Toledo, OH
Ashkaan Hassan Startup Lawyer for Toledo, OH
Christal E. Edwards, Esq., Mph, Ms Startup Lawyer for Toledo, OH
Sean P. Patrick, Esq. Startup Lawyer for Toledo, OH
Dante Bradley Startup Lawyer for Toledo, OH
Madhu Singh Startup Lawyer for Toledo, OH
Toledo Startup Lawyers
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- 4 min read
What is Your Principal Place of Business?
This question is not as simple as it sounds. For a sole proprietor or a one location company, the answer is straightforward – your principal place of business is your home, shop, office or wherever you primarily do business. But large companies and corporations often have several locations spread out across the country, or even around the world. In these situations, the company headquarters is usually the principal place of business. This is not necessarily the same state as the state of incorporation.
The supreme court finally ruled that the “nerve center” of the company is the principal place of business. The nerve center test refers to the single place where a corporation’s officers direct, control and coordinate the corporation’s activities. In practice, it is usually where the headquarters are, as long as the headquarters are the center of direction, control and coordination. It
- 2 min read
EIN: What is it?
EIN is an Employer Identification Number that serves as your business’ social security number. It is a unique 9-digit number that your business will use for all federal and state tax filings. This number is permanent throughout the life of the business unless ownership or legal structure is changed.
The EIN may also be required to:
Open a business checking account
Acquire a line of credit or other funding
Create accounts with various vendors
Depending on the form you are completing, an EIN may be referred to as the Tax Identification Number (TIN) or the Federal Employee Identification Numbe
- 6 min read
Starting a new business can be both an exciting and terrifying experience. The reality is that slightly more than half of Minnesota businesses started in 2010 went out of business by 2015, and nearly one in five didn’t even survive the first year. So how do you make sure that your business is one of the success stories? Proper planning and knowledge of the key legal requirements and common pitfalls.
Basic Steps to Starting a Business in Minnesota
- Prepare a Business Plan. A business plan is a roadmap for your business and the foundation of your success. Your plan will identity the problem you are trying solve, how you plan to solve it, and other keys to your success. Sample business plans are available online (for example, see http://www.bplans.com/). In addition, you can hire a consultant to write a professional business plan, though sitting down to think things through on your own will force you to r
- 5 min read
What Is Carried Interest?
Carried interest, also known as carry, is a share in the profits that general partners receive in compensation for the management of a venture capital fund. These profits can be long-term gains, dividends, short-term gains, or interest and total 20 to 25 percent of the fund's profits. However, general partners aren't required to invest their own money. Instead, these funds are intended as motivation for a general partner that are only available at the sale of the fund.
The best way to picture carried interest is through an example. Imagine you give a friend $100 to put on roulette when they go to Vegas, and they win $200. If you agreed to a 20 percent cut for your friend, you'll pay $20 on the interest. This is how carried interest works.
Another way to visualize carried interest is through anot
- 1 min read
DBA stands for “doing business as.” It is the name you choose for your business. It is different from your personal name, the official name of your corporation or LLC, and your partners' names. It is also known as an assumed name, trade name or fictitious name.
Why Is It Important?
It tells who owns the business.
It lets you work under another name.
You can open a business bank account and accept money.
All government filings require it.
Use DBA if:
You do not want to run a business under your own name
You already have a corporation or LLC set up, and you want to do business under another n